22:35 10 December 2025
ECB seen holding rates
Most economists expect the European Central Bank to keep interest rates unchanged through the end of 2026, according to a Reuters survey. Analysts cite subdued inflation and steady economic performance as the main reasons for policy stability. Eurozone consumer prices rose 2.2% in November—just above the ECB’s target—while average economic growth reached 1.5% over the past two quarters. ECB President Christine Lagarde has also hinted that growth forecasts may soon be revised upward.
In the poll, conducted December 5–10, all respondents said the ECB would leave rates unchanged this month; roughly 80% foresee no move before mid-2026, and nearly three-quarters expect rates to stay on hold through next year. Inflation is projected to ease to 2.1% this quarter and 1.7% in early 2026. Economists see eurozone GDP expanding 1.4% this year and 1.1% in 2026. The ECB has held its key rate at 2% since June after cumulative cuts of 200 basis points.
